The determination of wages is a problem for any company, as they should know what they have to pay their employees on the basis of various important factors. In this case, let’s talk about the fair wage.

The wage just depends on the level of life and social status of workers, but of other factors. Workers will negotiate for better wages, by which the company must determine how much is what must pay you their employees, the wage is the most important of the cost of labour, so that the company must pay minimum wage to offer prices lower in their products or services to increase their level of competitiveness and find better to achieve greater benefits.

Given that the worker will want the higher pay and that the company needs to increase the level of competitiveness through
lower prices, the fair wage is taken into account that wages must provide the following conditions:

• Must agree with the kind of work done
• Should be sufficient to meet the physiological and psychological needs of workers and their families (food, clothing, shelter, education, leisure, etc).
• Should be linked to job performance
• They must be similar to those of other companies in the same location for the same work to prevent workers from going to other companies with higher paying jobs
• They must be linked to economic performance of the company and share in its benefits

Therefore, the company must pay enough so that the worker meets your needs and feel rewarded if the company improves its results according to the job than developed, while it can compete with the salaries of other companies in the same area so that workers will. This is called wage fair.

Of course, wage policy of the company, there are other ways of determining wages and other ways of seeing what’s fair “wages”, but this is determined wages fair taking into account both perspectives. There is still much controversy over this issue, which is why companies find it difficult to determine what is considered wages fair or how much is it going to pay their workers.

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